Brown Advisory Inc. Boosts Stake in Cummins Inc. (NYSE:CMI)

Brown Advisory Inc. increased its position in shares of Cummins Inc. (NYSE:CMI) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 187,144 shares of the company’s stock after buying an additional 5,787 shares during the quarter. Brown Advisory Inc.’s holdings in Cummins were worth $65,239,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its position in shares of Cummins by 59.6% during the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department acquired a new stake in Cummins during the 4th quarter worth $26,000. Compass Financial Services Inc purchased a new position in Cummins during the 4th quarter worth $27,000. Meeder Asset Management Inc. increased its stake in Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 52 shares during the period. Finally, TCTC Holdings LLC purchased a new stake in shares of Cummins in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on Cummins from $420.00 to $338.00 and set a “hold” rating on the stock in a report on Tuesday, April 8th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Morgan Stanley decreased their price target on Cummins from $425.00 to $340.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Robert W. Baird dropped their price objective on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays raised their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $346.00.

Cummins Stock Up 1.6 %

CMI stock opened at $299.72 on Monday. Cummins Inc. has a 52 week low of $260.02 and a 52 week high of $387.90. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. The company has a market cap of $41.28 billion, a P/E ratio of 10.64, a P/E/G ratio of 2.19 and a beta of 1.02. The company’s 50-day moving average price is $310.47 and its 200 day moving average price is $342.51.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the prior year, the firm posted $4.14 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. On average, research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 21st were paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, February 21st. Cummins’s dividend payout ratio (DPR) is presently 25.84%.

About Cummins

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.